Benzinga | Dec 1, 2021 01:05PM EST

Wells Fargo Adjusts Price Targets On Water Utility Companies

* Wells Fargo analyst Jonathan Reeder updated his price targets on some water utility companies.

* Reeder raised the price target for SJW Group (NYSE:SJW) to $77 (an upside of 11%) from $76 and maintained an Overweight rating on the shares.

* He double upgraded SJW Group to Overweight from Underweight in early November and raised the price target to $76 from $70.

* The analyst raised California Water Service Group's (NYSE:CWT) price target to $63 (a downside of 3%) from $62 and maintained an Underweight rating on the shares.

* Reeder lowered the price target for American States Water Co (NYSE:AWR) to $97 (an upside of 0.65%) from $98 and maintained an Equal-Weight rating on the shares.

* In early November, the analyst had downgraded American States Water to Equal Weight from Overweight with a $98 price target.

* Also read, Wells Fargo Downgrades This Water Utility Company.

* Price Action: SJW shares are trading higher by 2.69% at $69.17, CWT up by 3.25% at $65.06, and AWR higher by 2.33% at $96.37 on the last check Wednesday.